November 2007

Dear Friends,

At the Boys & Girls Clubs of the Peninsula , we are committed to transparency and accountability.  It is for this reason that we have chosen to make our financial as well as program reports available here on our website for you and the public to view.

I am pleased to share with you the Audited Financial Statements for the Boys & Girls Clubs of the Peninsula . These statements were prepared by our auditors at Hood & Strong. They cover the fiscal year ending June 30, 2007.  For the year, revenues exceeded expenses by $851,000. The Club has $14.9 million in net assets. We are grateful for the support we have received and fully dedicated to maintaining a balanced budget in this fiscal year.

It is gratifying to have once again received a sound audit with no significant findings or management concerns. We look forward to continuing our long history of strong financial practices and to stewarding effectively the community investments that we are so fortunate to receive.

Thank you for taking the time to review this information. If you should ever have questions, comments, or like to visit the Clubs, please call us at 650-646-6140.

Sincerely,

Peter Fortenbaugh
Executive Director

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